Guideline Value for AYUB GARDEN

Ayub Garden guideline value

The current guideline value of Ayub Garden is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village under the Neelankarai SRO, classified as Residential Class V Type - II.

How the guideline value of Ayub Garden has changed

The guideline value for Ayub Garden has seen several revisions over the years. In 2012, the value was set at Rs 750 per sq.ft, which increased to Rs 502 per sq.ft in 2017. However, from 2017 to 2023, the value rose significantly to Rs 1,000 per sq.ft, marking a 99% increase. The 2023 revision maintained the same value of Rs 1,000 per sq.ft, which will continue into the 2024 revision.

For the years 2002, 2003, and 2007, the register has no figure for this street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Ayub Garden's 2024 figure below the median.

• Babu Manoharan Garden: Rs 1,100 per sq.ft (2024)
• Bakundeen Group Garden: Rs 1,000 per sq.ft (2024)
• Arasan Garden: Rs 1,000 per sq.ft (2024)
• Aqua Sphero: Rs 3,300 per sq.ft (2024)
• Anna Salai West Street: Rs 1,700 per sq.ft (2024)
• Anna Salai 2nd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ayub Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total charges Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your property.

Which Sub Registrar Office covers Ayub Garden?

The Sub Registrar Office covering Ayub Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your specific SRO, you can visit this link.

How the guideline value is used when you buy or sell in Chemmancheri

The guideline value is a crucial factor during property registration in Chemmancheri. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in accordance with the state's regulations.

When buying or selling property, the guideline value helps in establishing a baseline for the transaction price. This value is essential for both buyers and sellers to understand the financial implications of the sale, particularly in calculating the associated fees.

Frequently asked questions

What is the current guideline value of Ayub Garden?

The current guideline value of Ayub Garden is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023 and 2024, reflecting a significant rise over the years.

What is the median guideline value in Chemmancheri?

The median guideline value for streets in Chemmancheri is Rs 1,700 per sq.ft, which is higher than the current value of Ayub Garden.

What are the stamp duty rates applicable in Ayub Garden?

The stamp duty rate applicable in Ayub Garden is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.